Grey Ventures Invests in Balisoft

Grey Ventures, the independent venture capital arm of Grey Canada, said it has made a major strategic investment in Toronto-based Balisoft Technologies Inc., a developer of online customer service products.

The investment (financial specifics were not disclosed) supports the
development of LiveContact, which enables businesses to conduct customer
service on the Internet. LiveContact offers personal interaction via text,
voice chat and visual encounters over the Web.

“This investment on the part of Grey Ventures is not only integral to the
development of LiveContact, a product poised to change the way customer
service is executed, but it also represents an important investment into the
future of electronic commerce,” said Mark Skapinker, CEO of Balisoft.

In addition, Lasso Communications, an international
affiliate of the Grey Worldwide Network of companies, said it will create
strategic marketing initiatives for LiveContact and generate consumer and
business applications for the product.

Lasso’s involvement delivers value on several fronts including an improved
brand identity for LiveContact and integration into some of the most reliable
online business offerings through NetMerchant, Lasso’s suite of e-commerce
solutions, the company said.

Balisoft said its LiveContact customer service solutions make it possible to
offer live, personal contact as an essential component of the Internet
commerce experience.

Balisoft was founded in 1997 by Mark Skapinker, former president and co-founder of Delrina Corp., which marketed its WinFax brand computer fax software.

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